3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Mo's Motor Corp. issued $ 380,000 of 7%, 5-year bonds on April 1, 2021. Interest is payable semi-annually on April 1 and October 1. On April 1, 2023, immediately after making and recording the semi-annual interest payment, Mo's redeemed the bonds. Below is a partial amortization schedule for the first few years of the bond issue. Interest Period 01-Apr. 2021 01-Oct. 2021 01-Apr. 2022 01-Oct. 2022 01-Apr. 2023 Date of the bond is issued Face amount of bond Coupon (stated) rate Term of the bond (in years) Mo's Motor Corp. Bond Discount Amortization Schedule 1 Interest Payment $ 13,300.00 13,300.00 13,300.00 13,300.00 Interest Expense $14,583.57 14,634.91 14,688.31 14,743.84 Amortization $1,283.57 1,334.91 19 Using the above WileyPlus question please enter the appropriate information from the question into the appropriate boxes below: Data from the WileyPlus Assignment Question #2 20 21 22 23 24 25 26 27 28 29 1,388.31 1,443.84 Bond Amortized Cost $364,589.30 365,872.87 367,207.78 368.596.09 370,039.93 LOL All items in the parts below MUST be cell-referenced to your data to the left. Use Excel formulas for all amounts including dates. 20 21 22 23 24 25 26 27 28 29 30 31 32 a. 33 34 35 b. 36 37 38 39 40 41 42 43 44 45 46 4 A B Data from the WileyPlus Assignment Question #2 Date of the bond is issued Face amount of bond Coupon (stated) rate Term of the bond (in years) Selling (issue) price of the bond Date of payment D Interest Payment E Calculate the market rate of interest for this bond. (Round your answer to 2 decimal places, e.g., 2.75%) 1 marks Check the calculation for the interest rate on the bond using the Excel RATE function and the bond information from the question Interest Expense F All items in the parts below MUST be cell-referenced to your data to the left. Use Excel formulas for all amounts including dates. Starting with April 1, 2021, prepare and complete the bond amortization schedule - CALCULATE ALL CELL AMOUNTS USING FORMULAS - do not retype the amounts from above. (3 marks) Amount of amortiztion of discount or premium | Student Declaration Mark Allocation Part 1 Instalment Notes Payable Part 2 Bonds Bond at Amortized Cost All items in this schedule MUST be cell-referenced to your data above. Use Excel formulas for all amounts including dates. G Part 3 Lease Arrangement + H Bonus 1 mark I 35 b. 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 c. 52 53 54 55 56 d. 57 58 59 60 61 62 A B D E F G H I Starting with April 1, 2021, prepare and complete the bond amortization schedule - CALCULATE ALL CELL AMOUNTS USING FORMULAS - do not retype the amounts from above. (3 marks) Amount of amortiztion of discount or premium Bond at Amortized Cost Date of payment Interest Payment Interest Expense All items in this schedule MUST be cell-referenced to your data above. Use Excel formulas for all amounts including dates. Calculate the selling price of the bonds as a percentage of face value - Was the bond sold at a premium or discount? (Round your answer to 2 decimal places, e.g., 2.75%) 2 marks Prepare the journal entry to record the issuance of the Bonds and the first interest payment. (4 marks) Date Account Name Debit Credit 55 56 d. HRNNNNN 57 58 59 60 61 62 63 64 65 66 67 e. 68 69 70 71 72 73 74 75 76 77 78 79 f. 80 81 82 83 A B D E Prepare the journal entry to record the issuance of the Bonds and the first interest payment. (4 marks) Date Account Name Debit F Credit Prepare the journal entry required at December 31, 2022 assuming this the company's year end (3 marks) and the entry at April 1, 2023 (3 marks). Account Name Date Debit Credit G H Demonstrate what would be reported on the Balance Sheet of the Company at December 31, 2022 with respect to these bonds - be very specific with respect to classification, account names and amounts that would be reported. (4 marks) 76 77 78 79 80 79 f. 81 82 83 84 85 86 87 88 89 90 91 92 A B D F F G H Demonstrate what would be reported on the Balance Sheet of the Company at December 31, 2022 with respect to these bonds - be very specific with respect to classification, account names and amounts that would be reported. (4 marks) 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Mo's Motor Corp. issued $ 380,000 of 7%, 5-year bonds on April 1, 2021. Interest is payable semi-annually on April 1 and October 1. On April 1, 2023, immediately after making and recording the semi-annual interest payment, Mo's redeemed the bonds. Below is a partial amortization schedule for the first few years of the bond issue. Interest Period 01-Apr. 2021 01-Oct. 2021 01-Apr. 2022 01-Oct. 2022 01-Apr. 2023 Date of the bond is issued Face amount of bond Coupon (stated) rate Term of the bond (in years) Mo's Motor Corp. Bond Discount Amortization Schedule 1 Interest Payment $ 13,300.00 13,300.00 13,300.00 13,300.00 Interest Expense $14,583.57 14,634.91 14,688.31 14,743.84 Amortization $1,283.57 1,334.91 19 Using the above WileyPlus question please enter the appropriate information from the question into the appropriate boxes below: Data from the WileyPlus Assignment Question #2 20 21 22 23 24 25 26 27 28 29 1,388.31 1,443.84 Bond Amortized Cost $364,589.30 365,872.87 367,207.78 368.596.09 370,039.93 LOL All items in the parts below MUST be cell-referenced to your data to the left. Use Excel formulas for all amounts including dates. 20 21 22 23 24 25 26 27 28 29 30 31 32 a. 33 34 35 b. 36 37 38 39 40 41 42 43 44 45 46 4 A B Data from the WileyPlus Assignment Question #2 Date of the bond is issued Face amount of bond Coupon (stated) rate Term of the bond (in years) Selling (issue) price of the bond Date of payment D Interest Payment E Calculate the market rate of interest for this bond. (Round your answer to 2 decimal places, e.g., 2.75%) 1 marks Check the calculation for the interest rate on the bond using the Excel RATE function and the bond information from the question Interest Expense F All items in the parts below MUST be cell-referenced to your data to the left. Use Excel formulas for all amounts including dates. Starting with April 1, 2021, prepare and complete the bond amortization schedule - CALCULATE ALL CELL AMOUNTS USING FORMULAS - do not retype the amounts from above. (3 marks) Amount of amortiztion of discount or premium | Student Declaration Mark Allocation Part 1 Instalment Notes Payable Part 2 Bonds Bond at Amortized Cost All items in this schedule MUST be cell-referenced to your data above. Use Excel formulas for all amounts including dates. G Part 3 Lease Arrangement + H Bonus 1 mark I 35 b. 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 c. 52 53 54 55 56 d. 57 58 59 60 61 62 A B D E F G H I Starting with April 1, 2021, prepare and complete the bond amortization schedule - CALCULATE ALL CELL AMOUNTS USING FORMULAS - do not retype the amounts from above. (3 marks) Amount of amortiztion of discount or premium Bond at Amortized Cost Date of payment Interest Payment Interest Expense All items in this schedule MUST be cell-referenced to your data above. Use Excel formulas for all amounts including dates. Calculate the selling price of the bonds as a percentage of face value - Was the bond sold at a premium or discount? (Round your answer to 2 decimal places, e.g., 2.75%) 2 marks Prepare the journal entry to record the issuance of the Bonds and the first interest payment. (4 marks) Date Account Name Debit Credit 55 56 d. HRNNNNN 57 58 59 60 61 62 63 64 65 66 67 e. 68 69 70 71 72 73 74 75 76 77 78 79 f. 80 81 82 83 A B D E Prepare the journal entry to record the issuance of the Bonds and the first interest payment. (4 marks) Date Account Name Debit F Credit Prepare the journal entry required at December 31, 2022 assuming this the company's year end (3 marks) and the entry at April 1, 2023 (3 marks). Account Name Date Debit Credit G H Demonstrate what would be reported on the Balance Sheet of the Company at December 31, 2022 with respect to these bonds - be very specific with respect to classification, account names and amounts that would be reported. (4 marks) 76 77 78 79 80 79 f. 81 82 83 84 85 86 87 88 89 90 91 92 A B D F F G H Demonstrate what would be reported on the Balance Sheet of the Company at December 31, 2022 with respect to these bonds - be very specific with respect to classification, account names and amounts that would be reported. (4 marks) 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Mo's Motor Corp. issued $ 380,000 of 7%, 5-year bonds on April 1, 2021. Interest is payable semi-annually on April 1 and October 1. On April 1, 2023, immediately after making and recording the semi-annual interest payment, Mo's redeemed the bonds. Below is a partial amortization schedule for the first few years of the bond issue. Interest Period 01-Apr. 2021 01-Oct. 2021 01-Apr. 2022 01-Oct. 2022 01-Apr. 2023 Date of the bond is issued Face amount of bond Coupon (stated) rate Term of the bond (in years) Mo's Motor Corp. Bond Discount Amortization Schedule 1 Interest Payment $ 13,300.00 13,300.00 13,300.00 13,300.00 Interest Expense $14,583.57 14,634.91 14,688.31 14,743.84 Amortization $1,283.57 1,334.91 19 Using the above WileyPlus question please enter the appropriate information from the question into the appropriate boxes below: Data from the WileyPlus Assignment Question #2 20 21 22 23 24 25 26 27 28 29 1,388.31 1,443.84 Bond Amortized Cost $364,589.30 365,872.87 367,207.78 368.596.09 370,039.93 LOL All items in the parts below MUST be cell-referenced to your data to the left. Use Excel formulas for all amounts including dates. 20 21 22 23 24 25 26 27 28 29 30 31 32 a. 33 34 35 b. 36 37 38 39 40 41 42 43 44 45 46 4 A B Data from the WileyPlus Assignment Question #2 Date of the bond is issued Face amount of bond Coupon (stated) rate Term of the bond (in years) Selling (issue) price of the bond Date of payment D Interest Payment E Calculate the market rate of interest for this bond. (Round your answer to 2 decimal places, e.g., 2.75%) 1 marks Check the calculation for the interest rate on the bond using the Excel RATE function and the bond information from the question Interest Expense F All items in the parts below MUST be cell-referenced to your data to the left. Use Excel formulas for all amounts including dates. Starting with April 1, 2021, prepare and complete the bond amortization schedule - CALCULATE ALL CELL AMOUNTS USING FORMULAS - do not retype the amounts from above. (3 marks) Amount of amortiztion of discount or premium | Student Declaration Mark Allocation Part 1 Instalment Notes Payable Part 2 Bonds Bond at Amortized Cost All items in this schedule MUST be cell-referenced to your data above. Use Excel formulas for all amounts including dates. G Part 3 Lease Arrangement + H Bonus 1 mark I 35 b. 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 c. 52 53 54 55 56 d. 57 58 59 60 61 62 A B D E F G H I Starting with April 1, 2021, prepare and complete the bond amortization schedule - CALCULATE ALL CELL AMOUNTS USING FORMULAS - do not retype the amounts from above. (3 marks) Amount of amortiztion of discount or premium Bond at Amortized Cost Date of payment Interest Payment Interest Expense All items in this schedule MUST be cell-referenced to your data above. Use Excel formulas for all amounts including dates. Calculate the selling price of the bonds as a percentage of face value - Was the bond sold at a premium or discount? (Round your answer to 2 decimal places, e.g., 2.75%) 2 marks Prepare the journal entry to record the issuance of the Bonds and the first interest payment. (4 marks) Date Account Name Debit Credit 55 56 d. HRNNNNN 57 58 59 60 61 62 63 64 65 66 67 e. 68 69 70 71 72 73 74 75 76 77 78 79 f. 80 81 82 83 A B D E Prepare the journal entry to record the issuance of the Bonds and the first interest payment. (4 marks) Date Account Name Debit F Credit Prepare the journal entry required at December 31, 2022 assuming this the company's year end (3 marks) and the entry at April 1, 2023 (3 marks). Account Name Date Debit Credit G H Demonstrate what would be reported on the Balance Sheet of the Company at December 31, 2022 with respect to these bonds - be very specific with respect to classification, account names and amounts that would be reported. (4 marks) 76 77 78 79 80 79 f. 81 82 83 84 85 86 87 88 89 90 91 92 A B D F F G H Demonstrate what would be reported on the Balance Sheet of the Company at December 31, 2022 with respect to these bonds - be very specific with respect to classification, account names and amounts that would be reported. (4 marks)